exam 2 formulas Flashcards
1
Q
Net income
A
Revenue - expenses
2
Q
Product cost per unit
A
Total Product cost / number of units produced
3
Q
product cost
A
direct labor + direct material + factory overhead
4
Q
predetermined overhead per unit
A
fixed overhead / estimated total base unit
5
Q
predetermined overhead rate
A
estimated manufacturing overhead / estimated activity base
6
Q
Activity-based costing (cost driver rate)
A
cost pool / cost driver
7
Q
cost of inventory
A
(beg inventory + inventory purchased) - end inventory
8
Q
relevant cost
A
variable cost + reduced fixed manufacturing cost
9
Q
A
